The Life Illustrations Work Group published a practice note to assist actuaries in performing professional services in compliance with ASOP No.24 and provide information to actuaries on current or emerging practices.
(January 26, 2018)The Individual and Small Group Markets Committee sent comments to Office of the Assistant Secretary for Planning and Evaluation in response to the Department of Health and Human Services’ request for information on promoting healthcare choice and competition.
(January 25, 2018)The Committee on Property and Liability Financial Reporting has released an exposure draft of a new practice note on retained risk. Comments are due by March 30.
(January 18, 2018)The Big Data Task Force submitted comments to the NAIC's Big Data (EX) Working Group on their recent exposures.
(January 12, 2018)The Role of the Actuary Subgroup sent an Amendment Proposal Form to the NAIC Life Actuarial (A) Task Force on changes to the definition of Actuarial Opinion outlined in VM-01.
(January 11, 2018)The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC's Life Insurance Buyer's Guide (A) Working Group on the CEJ Expanded Outline.
(January 03, 2018)The Retirement System Assessment and Policy Committee published an issue brief providing an actuarial perspective on the role of U.S. tax policy in retirement security.
(December 28, 2017)The Committee on Property and Liability Financial Reporting (COPLFR) released the Statements of Actuarial Opinion on P/C Loss Reserves practice note.
The Financial Reporting Committee (FRC) submitted comments to the Financial Accounting Standards Board (FASB) on its proposed updates to the accounting for long-duration contracts.
(December 15, 2017)The winter StateScan Quarterly highlights state legislation in the past quarter related to auto insurance, health insurance marketplace changes, pension plans, principle-based reserving, and more. For a comprehensive review, log in to StateScan, the legislative and regulatory portal free for Academy members.
(December 14, 2017)The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC's Life Insurance Buyer's Guide (A) Working Group on the NAIC group's "10 Things You Should Know Before Purchasing Life Insurance" exposure draft.
(December 14, 2017)The Health Practice Council submitted a letter to the U.S. House and Senate providing comments on the potential consequences of eliminating the ACA's individual mandate, as possible in the conference committee for the Tax Cuts and Jobs Act.
(December 12, 2017)The Academy presented on both public policy and professionalism matters at the National Association of Insurance Commissioners (NAIC) Fall 2017 National Meeting Dec. 2-4 in Honolulu. Read the Academy alert on highlights from the meeting here.
(December 08, 2017)The Health Practice International Committee published an issue brief on global aging demographics, quality of life during the end-of-life period, palliative versus curative care, and strategies for address health care challenges at the end of life using case studies from a variety of countries.
(December 06, 2017)Arnold Dicke, Chair of the Role of the Actuary Subgroup, presented an update on the development to the NAIC Life Actuarial (A) Task Force on the definition of “qualified actuary” in the valuation manual and standard valuation law.
(December 01, 2017)The Life Practice Council sent a comment letter to the NAIC's Financial Condition (E) Committee raising concerns over the process by which the NAIC is developing changes to the statutory framework for variable annuities (VAs), including both C-3 Phase II for risk-based capital (RBC) and Actuarial Guideline (AG) 43 reserve requirements.
(December 01, 2017)Donna Claire, Chair of the PBR Governance Subgroup, presented an update to the NAIC Life Actuarial (A) Task Force on the Academy’s efforts on PBR implementation.
(December 01, 2017)